This bill aims to expand access to the property tax exemption program for seniors, individuals retired due to disability, and veterans with disabilities in Washington State. It amends RCW 84.36.383 to redefine income thresholds for eligibility, specifically adjusting the combined disposable income limits for tax collection years through 2026 and establishing new thresholds for 2027 and beyond. The new income thresholds will increase incrementally, allowing for greater financial flexibility for eligible individuals. For instance, the income threshold for taxes levied in 2027 and thereafter will be set at 55% of the county median household income, with adjustments every three years.

Additionally, the bill clarifies definitions related to the property tax exemption program, including terms such as "principal place of residence," "real property," and "residence." It also specifies that the act will apply to taxes levied for collection in 2027 and thereafter, and it states that certain existing laws (RCW 82.32.805 and 82.32.808) do not apply to this act. Overall, the legislation seeks to enhance financial support for vulnerable populations by making property tax exemptions more accessible.

Statutes affected:
Original Bill: 84.36.383